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NatWest Savings Accounts

Joint Savings Accounts

What is a joint savings account?

Having a joint savings account is the same as having one on your own, except two people have control over the account, and can pay in and withdraw funds from the account.

Joint savings accounts are a great way for two people to save together towards a joint goal, like a big event, maybe a holiday, or just a rainy-day fund.

Who can open a joint savings account?

To apply for a joint savings account, you need to already hold a current account with us. Find out more about our current accounts if you don't have one already.

We offer the option to open a joint savings account with any of the following products:

Instant Saver - our most basic savings account; flexible saving without the need to deposit regularly. Access your savings whenever you need it.

Savings Builder - great for regular savers, with a savings balance under £10,000. Access your savings whenever you need it. You'd need to grow your savings balance by at least £50 in a single month to earn interest in that month.

Premium Saver - better suited for those saving over £25,000. Access your savings whenever you need it. With this account, you'd receive bonus monthly interest on balances between £25K - £1M, as long as you make no withdrawals for that month.

To apply for a joint savings account online, simply choose the 'joint' account option when it is shown after you click 'Apply now'.

Our Savings Goal tool

Saving's easier if you have a goal. You can use the Savings Goal Tool in our mobile app to track your joint savings progress.

Does a joint savings account affect my credit score?

  • Applying for a joint savings account won't have any impact on your credit score, as we don't need to perform any searches with credit reference agencies to open a savings account.
  • However, if you aren't already a NatWest current account customer, and choose to apply for a current account, searches may be performed with credit reference agencies, which could affect your credit score.
  • Opening and using a savings account, sole or joint, won't have any impact on your credit history. Lenders don't look at savings accounts when making any decisions regarding potential lending.
  • It also means you won’t need to worry if you or your partner has a bad credit history – a joint savings account won’t affect the other’s credit.

Do we both need to be NatWest customers to open a joint savings account?

No, to apply for a joint savings account, only one party needs to be an existing NatWest current account customer.

You'll both be able to view the account in NatWest Mobile Banking and Online Banking.

Questions about joint savings accounts

Do we need a joint current account to have a joint savings account?

No, you don't have to have a joint current account to apply for a joint savings account. However, at least one of you needs to be an existing NatWest current account customer.

Can I have sole and joint savings accounts?

Yes, you can have sole savings accounts for saving on your own, and joint savings accounts for saving with another. However, there may be limits to the number of sole or joint savings accounts you can have for an individual product. Please check the eligibility information on the webpage of the product you are interested in for more information.

What happens if one of the joint savings account parties passes away?

In the circumstance that one joint account holder passes away, we can change the joint account to a sole account. The best thing to do is speak with your nearest branch, or write to us. 

Will we both earn separate interest on a joint savings account?

No, afraid not. The interest you'll earn on the joint savings account will be the same rate that you would earn on a sole savings account, unless we explicitly tell you otherwise.

Can we have a joint savings account with more than 2 parties?

No, we only offer joint savings accounts between two named parties.